the basics Flashcards
1
Q
How to re transactions work?
A
- listing presentation/listing agreement
- market the property-mls multiple listing service, other websites etc.listed email blast.brochures etc,social media
- open house/show the property
- offer submitted & accepted
- home inspections (sometimes)
- sign p&s (purchase and sale contract)
- financing secured if needed
- conditions met
- on the record=comissions
2
Q
rentals
A
- renter works with you as their agent
- show apartments
- applications
- FMR( first months rent and any applicable fees)due
- lease signing
- keys/given move in
3
Q
co-broke
A
split with another brokerage
4
Q
who needs a re license?
A
-anyone who does re related sctivity for a fee (or expectation of a fee)
5
Q
where do licenses come from?why do we have them?
A
to protect consumers
-police power=right of govt to enact laws to protect publci
6
Q
board of registration of re brokers & salespersons (ma)
A
-deals with issuing license, license renewal, rule administration & enforcement
1000 washington st, boston ma 02118
7
Q
re board members?
A
-5 members- 2 public
-3 brokers w/7+ years experience
-seats serves for 5 years unpaid
-meet 4 times a year
assigned by the governor
8
Q
who is special agent
A
broker
9
Q
subagent
A
sales person
10
Q
issues re license
A
board of registration
